The City of Buda’s Fiscal Year 2020 annual audit of the City’s financial reports has been completed by the City’s external audit firm Whitley Penn, LLP. We are pleased to announce that the City has received an unmodified, or “clean”, opinion on the audit.
Having a “clean”, or unmodified, opinion on the audit means the City’s financial records have been determined by the audit firm to be free of any material misrepresentations, and it is the highest level of assurance that can be given on a set of financial statements.
Bond-rating agencies view our annual financial statements and any healthy fund balances in the audited statements as a positive indicator of financial stability when determining the City’s bond rating.
Whitley Penn presented the audit to the City Council on March 23, 2021, at which time it was approved.
Below are some highlights of the FY 2020 annual audit, which is contained in the Annual Comprehensive Financial Report:
“After a very challenging year as a result of the pandemic, I’m pleased that the City of Buda was able to maintain the type of financial stewardship needed in order to receive this unmodified, or “clean”, opinion on our financial statements for our 2020 fiscal year, said Finance Director June Ellis. “This audit is a reflection of the hard work of all City staff and reflects the city operations and policies that have been put in place to ensure the financial stability of Buda.”
The external audit is required by the City’s charter and state law. It is an important tool to ensure transparency and maintain the public’s trust that city resources are being used effectively and efficiently. The Fiscal Year 2020 and prior years’ audited financial reports are available on the City’s website at www.ci.buda.tx.us/131/Budget.
Buda’s Finance team worked with Whitley Penn to prepare the audit reports. The City of Buda’s Finance Team consists of Finance Director June Ellis, Assistant Finance Director Debra French, Accounts Payable Specialist Kelly Strong, Purchasing Manager Rose Esparza, Payroll/Accounting Specialist Ida Simon, and Financial Analyst Brennan Morgan. We also want to recognize our Utility Billing and Municipal Court team which consists of Missy Heacker, Sondre Crabtrey, Nicole Barrientos, Julie Bazan, and Lauren Mann.
Audit Committee Members: Councilmembers Evan Ture (Chair), Terry Cummings, and Monica Davidson.